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Chapter 6
Business Transactions and their Analysis
PROBLEM 1: IDENTIFYING THE ACCOUNTS AFFECTED
2. Cash 300,000
Sales 300,000
5. Cash 800,000
Notes payable 800,000
2. Inventory 300,000
Cash 300,000
3. Inventory 400,000
Accounts payable 400,000
6. Cash 700,000
Accounts receivable 700,000
7. Equipment 58,000
Cash 58,000
1. Cash 90,000
Owner’s capital 90,000
2. Inventory 60,000
Accounts payable 60,000
3. Cash 200,000
Sales 200,000
1. Cash 600,000
Owner’s capital 600,000
2. Cash 400,000
Notes payable 400,000
3. Inventory 200,000
Cash 200,000
4. Inventory 500,000
Accounts payable 500,000
7. Cash 500,000
Accounts receivable 500,000
8. Equipment 480,000
Cash 480,000
5. Cash 10,000
Notes payable 10,000
8. Cash 50,000
Accounts receivable 50,000
JOURNAL ENTRIES:
A Company B Company
1. Cash 5
Owner’s capital 5
2. Cash 7
Owner’s capital 7
3. Cash 5
Notes payable 5
4. Equipment 6
Cash 6
5. Inventory 3
Cash 3
6. Cash 5 Inventory 15
Accounts receivable 10 Cash 5
Sales 15 Accounts payable 10
Cost of sales 3
Inventory 3
7. Cash 9
Sales 9
Cost of sales 5
Inventory 5
8. Accounts receivable 10
Sales 10
Cost of sales 5
Inventory 5
P a g e | 10
9. Cash 5 Cash 3
Accounts receivable 5 Accounts receivable 3
Accounts payable 5
Cash 5
ANSWERS TO QUESTIONS:
a. Answers: A Company = ₱11; B Company = ₱8; Side = ₱1
c. Answer: ₱5
d. Answer: ₱7
e. Answer: ₱5